News ID: 236448
Published: 0358 GMT December 25, 2018

Iran ups non-oil exports to Iraq by 55%

Iran ups non-oil exports to Iraq by 55%

Iran considerably increased exports of non-oil goods to Iraq in the eight months from March 21-November 21, announced a senior trade official.

"Iran exported goods valued at $6.4 billion to Iraq during the eight-month period showing a 55-percent growth," said Director of Arab-African Affairs of Trade Promotion Organization of Iran (TPO) Farzad Piltan on Tuesday in an address to a ceremony for exemplary Iranian exporters of Arvand Free Zone in Khorramshahr City, Khuzestan Province, in southwestern Iran, reported Fars News Agency.

He underlined that a 1,000-square-meter area has been allocated for establishing a permanent exhibition fairground for 25 Iranian companies to showcase their products in the Iraqi capital of Baghdad.

Piltan described the building of new transit routes between Iran and its neighboring countries as one of the other projects to expand trade with them, and said that connecting Iran's railway system as well as building a transit corridor between Iran and Kuwait is currently being pursued.

Arvand Free Zone, with an area of 37,400 hectares, is at the confluence of the Karoun and Shatt al-Arab Rivers and in proximity to Iraq and in the northwest of the Persian Gulf.

This zone has long served as one of the border and oil rich zones of the country due to the existence of freshwater of Karoun and Arvand rivers and also transportation facilities, including road, rail, sea and air.

In mid-December, Iran's Ambassador to Iraq Iraj Masjedi underlined that the two neighboring countries can easily double their trade exchanges in the near future.

"Iran's non-oil trade with Iraq stands at around $10 billion and the amount can reach $20 billion through revenues from oil and gas trades between the two states," Masjedi said, in an address to a conference on boosting Iran-Iraq economic ties in Basra attended by 120 businessman and entrepreneurs, as well as 34 Iranian companies.

The Iranian ambassador reiterated the need for involving Iranian companies in Iraqi projects to help improve economic transactions between the two countries.

Some 64 Iraqi businesspersons attended Iran EXPO, Export Potential Exhibition of the Islamic Republic of Iran, last week, presenting their latest products in 12 categories of food industry, agriculture, automotive, handicrafts, industrial parts, electricity and energy, carpets, textiles, leather and apparel, household appliances, cellulosic health products, medical and hospital equipment, and construction industries.

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